News: GMD Silver Lake Resources Says To Progress With Revised Proposal To Acquire St Barbara's..., page-7

For SBM directors a bird in the hand is worth two in the bush.

If I were a SBM director I would not want to risk the certainty of the GMD deal when as a SBM director I am facing a 30 June debt repayment deadline or worse have SBM put into administration by the banks.

If SLR made their current bid unconditional on all points apart from shareholder approval then SBM directors may have more to consider, but I think SLR has run out of time to arrange a shareholder vote before the 30th June bank deadline and that in a nutshell is SLR's self imposed mistake.